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The Secrets behind Honda’s Success

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The Secrets behind Honda’s Success

The current economic climate is one of the most difficult since the Great Depression. Many carmakers have been on the verge of bankruptcy. Sales of some car makes and models have suffered, as consumers have taken on different priorities in this economy. However, one company continues to stand out and has been rather resilient during these tough times. This would be Honda whose sales figures have been consistent.

 

Seeing the economic problems of most carmakers while Honda is prospering leads many to wonder why this is happening. Currently a myriad of factors are helping Honda remain on the top. One major change in this economy is seeing consumers veer away from trucks and sport utility vehicles. These vehicles are not only more expensive to purchase but much more expensive to maintain. Fuel efficiency is definitely not one benefit of purchasing a vehicle in this class. This is one reason that Honda is faring well in this economic climate. Their line of vehicles is not dependent upon truck or SUV sales. While they do offer them, they depend more on their car sales. These include a range of types of car such as the Hybrid model Honda CR-Z.

 

The brand name, Honda, also has quite a great deal of loyalty surrounding it. This helps keep consumers coming back for more. Consumers view Hondas as being high quality vehicles as well as reliable. Honda cars also maintain high resale values; more than other brands currently on the market.

 

Honda vehicles are also perceived by consumers as being fuel-efficient choices. Today’s consumers are aware of the high fuel prices, and so they want a car they will require less fuel which in turn will save them money. In fact, Honda has built its brand around this aspect of fuel efficiency. Coupled with that the inclusion of the environmentally friendly hybrid models, Hondas are excellent choices for today’s consumers.

by Mircea Serafim (my Google+) - Wednesday, October 3rd, 2012 - filed under Honda, News. Image credit: Honda.
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